Mortgage Assessment (MA)

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Mortgage Assessment (MA)

Introduction

The Mortgage Assessment is as it says, an Assessment of the Mortgage to establish if potentially there has been any breaches of Mortgage Code of Business (MCOB), Mis calculation, Over charge or Breach of Contract.

THE MORTGAGE ASSESSMENT IS NOT A MORTGAGE CLAIM

Stage One

As part of the service that we provide, we look at your Mortgage either historically or current and produce a Mortgage Assessment based on the information you provide, by answering several Mortgage related questions. This will potentially highlight any possible areas of concern with your Mortgage. The Assessment is then passed to a Mortgage Expert Witness to give his Opinion on it.


THIS SHOULD NOT BE REGARDED AS ADVICE ON YOUR MORTGAGE.

The initial stage is for you to simply receive an assessment which would be to establish quantum (any potential loss). If you are a Full Personal Review client, you will receive a full in-depth 36-page report. You then make an informed choice of the 4 options available to you below.

1. Do Nothing
2. Do it yourself
3. Instruct another CMC (Claim Management Company)
4. Instruct CPL (Commitments Protection) to proceed to next stage

Stage Two

Once you have given your ‘Authorisation to Proceed’ and returned your ‘Letter of Authority’ we would submit your potential claim to our Legal Mortgage Experts and they will acquire your DSAR file from your lender and look to gather the FACTS behind the potential claim.

With the DSAR returned they will process it through their software to establish whether there has been either potential ‘Mis-Sale’ or Mis Calculation’ or both and quantum established.

A more in-depth report is then instructed to support the potential claim.

Once they have received the reports, and you have identified that there is a potential claim with a loss established, then this is when the Mortgage Assessment could potentially become a Claim.

Stage Three

Your Claim will be presented to our panel Solicitors, for them to establish and decide if they want to go forward to Litigation.

The Solicitor charges a success fee of 30% plus VAT which will be charged on any monies claimed back.

This process may take up to 24 months to take your claim to litigation or sometimes longer.

NOT ALL MORTGAGE REVIEWS BECOME MORTGAGE CLAIMS AS QUITE OFTEN NO LOSS CAN BE ESTABLISHED.

IN OUR EXPERIENCE THE MAJORITY OF MORTGAGE ASSESSMENTS DO NOT BECOME A CLAIM BUT ARE AN ASSESSMENT THAT SIMPLY LOOKS TO IDENTIFY IF THERE ARE ANY POTENTIAL ISSUES.

To get a Mortgage Assessment click Quote now.

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Commitments Protection Limited is Registered in England and Wales CRN 04450200
Regulated and Authorised by the Financial Conduct Authority FRN 307800
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